It’s good to know where people are coming from when discussing opportunities involving Presearch. I should have used the term “scammers” instead of “leeches”. I was merely thinking that the more doors that are opened opportunity wise on the outflow of PRE tokens…you know who will be flooding the gates first …scammers, bot farms and fraudsters. We see the daily misery of offering unstaked search rewards in every TG channel.
We are already not playing by big tech rules …that involves selling users data. Im not talking about “centralizing power into the INC”. Think of the PRE token as a share in the company is all. The overall value of the company is reflected in its share price. Other income streams would be nice but I in no way think it is REQUIRED for the success of Presearch. Not at all.
I agree with you on the idea of how node runners are compensated and is why I pointed out that the original white paper stated 20% of all revenue would be shared with node runners. In the meantime we are held to a set dollar amount due to lack of income…PRE, fiat or otherwise. Nodes and node runners are the backbone of Presearch and it’s entire infrastructure and should benefit the MOST. So I agree with everything you say regarding this particular point.
Right NOW the focus needs to be on generating income opportunities for the INC not outflow options is my point. As you said there is not even enough income to compensate node runners properly!
For @MvL72 and @dan
The VC funding is a little concerning and it wont be the only round which Tim stated. I only hope that it is not out of control to the point we are all concerned with …losing control of the concept and goals of Presearch. There will be another funding round with angel investors…the bar is pretty high to be a certified AI. 99% of us will not meet the standard of income and liquid assets. This is Tims entire background and he is also an OG token holder. So THAT makes for a “safe” combination in my view. That was why I asked the seemingly innocent question during the AMA which was asking how long he had been a major bag holder. The answer was basically since the beginning.
The sooner DAO governance is laid out and implemented the better. This would be a MAJOR step toward preventing loss of control like happened with OpenAI and Microsoft basically gaining control by way of massive investments. Now its closed source and nothing like it once was.
The ideas I have mentioned are exactly opposite of PRE outflows they are utilities for PRE consumption all creating PRE income for Presearch and the NFT owners (if they do a good job) but that PRE they could earn would be coming from other users or advertisers not from Presearch. This is exactly how you get the node rewards to become sustainable and not an inflationary drain. You create enticing options that users get value from in exchange for PRE. This creates additional demand for PRE (people buying on the open market) and at the same time income back to presearch.
Why would we have presearch buy PRE on the open market when we should get users to do that instead or along with? The reason is because there is not utilities for PRE nothing juicy or enticing enough so people just hold it. Stop that shit and start build enticing utilities then people will use their PRE or buy it and use it and it all goes back into treasury to sustain or increase rewards.
This is my biggest issue it seem focus is on making INC profitable and cutting costs. I think PRE utilities should be prioritized on the roadmap and nothing I see other than API and keywords are in alignment with what I am talking about. But that is not compelling unless searches are much higher and you are an advertiser which is not a majority of the users what about the API again a cool utility for a minor fringe element not the vast majority or users.
Build utilities that entice Most users to give up their PRE in exchange for some value. The more the better! Not on the road map which is why I see a continued drain on the PRE because the team is not building enticing utilities for PRE. No utilities = PRE hording and continuous drain and more cuts and probably more cuts again to node runner and search rewards.
If you build utilities that people want and will use they will gladly fork over PRE and you will begin to stop the bleeding until then rig for pain and cuts and inflation.
“Normies” aren’t buying crypto to pay for things. 90% of everyday people are not interested in crypto and certainly not trying to figure out how to buy it just to spend it as most still consider it scammy/fake etc. Not one person at where I work has an interest in crypto (20 people aged 19 to 70). It would be easier to charge them in fiat. Seriously. That is where the world is at. Whip out their credit/debit card…done. It’s just not as simple as create some amazing “thing” that will cause/force people to buy Presearch tokens so they can spend it on that one or multiple amazing things. Someone who creates those same amazing things and charges fiat for them would win all day long. There is NO advantage of buying crypto with cash just to pay for something in crypto unless its Monero, Firo etc and you are trying to conceal a transaction. We are just not there yet. Utilities that consume PRE is fine…but who and how are we expecting to have that PRE to consume? Average Joe …not happening.
The focus needs to simply be building the absolute best search engine. Focus on anything OTHER than “crypto”. Excellent search results, Privacy, Blockchain tech, Decentralization, AI, non biased and non censored search results. Those things have real interest to most people. Not so much the “crypto” part. Then people will come, then advertisers, then perhaps “premium features” etc, then income. I’m going to leave it here for a while. There are a lot of “new” things going on and some dust needs to settle.
I agree that not many people are into crypto which is why I said to create a payments page that would allow you to choose:
Self custody wallet PRE
Presearch wallet PRE
Presearch rewards wallet PRE
or
Fiat but there would be a markup so the fiat automatically gets converted to PRE and sent to the treasury with all fees built in plus profit.
The 4th is different than presearch selling tokens themselves, they are using the cash to buy on the open market and cover the PRE utility fee. This is the same as the person buying PRE and using it for the utility but presearch is just partnering with exchanges to be a middle man and make a profit. They will use the same exchange liquidity when they start buying PRE with 1-20% of the other fiat revenues.
Also agree need to continue to make presearch a better search provider. Utilities IMHO that make it different from all the other providers are what can make it better.
I understand the need to reduce payouts and limit those trying to game the rewards to make the project profitable.
I’m concerned about those that helped Presearch get to this point by running nodes. Presearch offloaded those costs, and many of us have run nodes at a loss based on our belief in the project and the idea of decentralization. If Presearch believed in decentralization, an equitable profit should go to those running the infrastructure. Not to VCs who are only providing additional cash. At this point, I don’t think we have any idea because the communication hasn’t happened.
That a foundation was created with only three people having control does not sound very decentralized. I’m also curious about how voting rights are managed. We also don’t know much about the legal makeup of the foundation. Ideally, a truly decentralized project would allow voting for any decisions and be open and transparent.
I could go on, but I think @Ben captured most of my concerns in his post.
@keith you are not alone with your concerns. More of the community needs to speak up on this takeover or force Tim, Colin, and management team to really address the concerns. Doing an AMA in the middle of a work day on censored YouTube is not conducive to max community participation for a decentralized search project.
In regard to your concerns about node runners see my critiques and recommendations here
Definitely makes it better that it was on rumble and odysee as well.
I didn’t here anyone pipe in for questions was it just selecting chat questions? Is there a plan for more Q&As and more interactive like allowing people on to ask questions and debate live or will these just be chat of forum selections? The format was ok I think some good questions were asked and Rice did a good job keeping the flow going. I would have just liked to see different times and a little more live back and forth.
Also will the Friday updates go into Q&A after the updates are finished?
The videos remain on the platform, which means that you can watch them any day of the week, YouTube may have censorship on some occasions, but you can still watch the video without any kind of Censorship like the other platforms